Property: auction way to go

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National Auctioneer website EIG reports a national increase of two per cent in lots offered and sold in the period from December 2013 to February 2014.

Some people might be surprised at this given the improving market. However, sellers are starting to appreciate that with possibly 10 eager buyers bidding for one property, the auction price achieved just might go a little higher than with an estate agent.

In Yorkshire and Humberside the percentage of residential lots sold actually dipped by one per cent to an average of 78.2 per cent.

David Pank, from Auction House, said: “This is in stark contrast to Auction House West Yorkshire who achieved a success rate of 95 per cent over the two auctions held in this period.

“Furthermore, the report shows Auction House West Yorkshire sold an incredible 14 per cent of all residential lots sold by the 30 auctioneers across the whole of Yorkshire and Humberside from December to February. The lots sold by other Yorkshire auction house operations across the region, including East Yorkshire, York and South Yorkshire take this figure on towards 20 per cent.”

He added: “Auction is now becoming mainstream as property with potential is experiencing unprecedented demand from cash buyers. Our brand of auctioneering is appealing to the public and professionals alike. Our ‘no sale–no charge’ option and superior marketing are in no small part responsible for our success.”

Auction House are the largest residential auctioneers in the UK with 33 sale rooms and selling more residential lots than any other auctioneers. They sell regularly at Elland Road, Leeds.

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